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NEW YORK - Antelope Enterprise Holdings Limited (NASDAQ:AEHL), a micro-cap company with current market capitalization of $7.32 million, announced Tuesday it has entered into a Securities Purchase Agreement with U.S.-based investment firm Streeterville Capital, LLC for financing of up to $50 million to purchase Bitcoin.
The agreement stipulates that Streeterville Capital will provide funding in tranches over a period of up to 24 months. Antelope Enterprise plans to use these funds exclusively for acquiring Bitcoin based on market conditions. According to InvestingPro data, the company currently operates with a significant debt burden and has been quickly burning through cash, factors investors should carefully consider.
While the stock has seen a strong 10.1% return over the past week, "The move marks a true starting point of AEHL’s digital transformation and a significant milestone as we shift from strategy to execution," said Tingting Zhang, CEO of AEHL, according to the company’s press release. InvestingPro analysis reveals 14 additional key insights about AEHL’s financial position and market performance.
The company stated it will fulfill its public disclosure obligations by regularly updating the market on its Bitcoin purchase progress, holding status, and custody arrangements.
Antelope Enterprise also indicated plans to release a comprehensive long-term Bitcoin strategic development roadmap in the near future, while continuing to explore additional opportunities in Web3 and crypto finance.
The company currently operates in energy infrastructure solutions through natural gas power generation via its wholly owned subsidiary AEHL US LLC, and holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co. Ltd, which runs a livestreaming e-commerce business in China.
This announcement represents the company’s formal entry into the cryptocurrency asset space after previous strategic planning in the sector.
In other recent news, Antelope Enterprise Holdings Limited has secured a significant financing agreement valued at up to $50 million. This strategic move involves a Securities Purchase Agreement with Streeterville Capital, LLC, a U.S.-based investment firm. The capital will be provided in tranches over a period of up to 24 months. Importantly, the funds are earmarked exclusively for the acquisition of Bitcoin. This marks Antelope Enterprise’s formal entry into the cryptocurrency asset market. These developments indicate a notable shift in the company’s strategic direction.
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